Legal sports betting in Missouri is scheduled to launch statewide on December 1. Analysts expect a highly competitive online market for the 19th largest state, anchored by national brands and local team partnerships. The first-year handle in the Show Me State is expected to be $3.5 billion to $4.0 billion. The launch date hits at an extremely busy time on the sports calendar, which has the main players using aggressive promotions with an aim to grab early market share.
Sports betting was legalized via voter-approved Amendment 2 in November 2024, authorizing both online and retail wagering under the supervision of the Missouri Gaming Commission. The framework allows up to 14 online licenses and a larger number of retail licenses tied to the state’s casinos and eligible professional sports teams, with the Missouri Gaming Commission responsible for licensing, compliance, and integrity oversight.
Analysts also expect FanDuel and DraftKings to emerge as early handle leaders, with secondary but material share for BetMGM, Caesars, bet365, and Fanatics given their national scale and local access deals.
DraftKings (DKNG) holds one of Missouri’s two untethered mobile licenses, so it can operate statewide without a mandatory casino or team partner. As in other states, DraftKings is expected to lean heavily into same‑game parlays, live betting, and deep NFL and NBA menus.
In a surprise, Circa Sports holds the second untethered license. The sports betting shop is known for sharper lines, higher limits, and a more price‑sensitive clientele.
Flutter Entertainment’s (FLUT) FanDuel gained market access through a partnership with MLS club St. Louis City SC. Most analysts forecast FanDuel to lead in market share in Missouri as it leverages its national leadership position and strength in same‑game parlays and live betting options.
BetMGM (MGM) (OTCPK:GMVHF) was approved for a temporary license and is planning statewide online operations, supported by a market access deal with Century Casinos (CNTY) that also covers retail books at those properties.
Caesars Sportsbook (CZR) will be live in Missouri from the start by gaining access through its existing ownership of Missouri casinos. Caesars (CZR) is expected to emphasize its rewards program and cross‑sell between the app and brick‑and‑mortar casinos, which may be particularly relevant around St. Louis and Kansas City.
UK-based bet365 will operate through a partnership with the St. Louis Cardinals, while Fanatics (FANA) Sportsbook is licensed for online betting through a market-access partnership with Boyd Gaming’s (BYD) Ameristar properties in Kansas City and St. Charles. Fanatics’ strategy will likely center on integrating merchandise, loyalty, and betting—such as jersey credits or team gear offers tied to wagering milestones. PENN Entertainment (PENN) will tackle the Missouri market under theScore Bet banner.
One of the more interesting sports betting operations to watch will be Underdog Sports. Underdog says its modern tech environment and in-house product development allow it to continuously deliver the best experiences for its users. The company has received funding from notable investors like Mark Cuban, Kevin Durant, SV Angel, and BlackRock (BLK).